Nov 12, 2012 4:00pm EST
holiday, in dallas, hundreds lined downtown streets for the annual veterans day parade. a similar scene played out this morning in the military-rich community of virginia beach. it's one of the biggest veterans day parades in the country. still this afternoon we'll introduce you to a local veteran who is literally running across the country to help wounded warriors. >>> this week president obama will focus on ways to avert the so-called fiscal cliff. he'll be meeting with labor and business leaders starting tomorrow. then sit down with congress al leaders friday. top democrats and republicans have until the end of the year to agree on deep budget cuts. if they can't reach a deal, a series of tax increases and spending cuts will automatically kick in. the key sticking point for a compromise is a tax cut for wealthier americans. >> jim, both sides say they're willing to bend. the question here is how far. president obama and congressional republicans are squaring off this week over tax cuts for the rich. and if they can't work out their differences by december 31st, we're all in trouble.